More than half of 400 people polled in Ho Chi Minh City expressed intention to purchase homes valued below 1 billion VND (46,512 USD), revealed a recent online survey on local housing demand by

Another 32 percent want to buy homes worth 1-2 billion VND (46,512 – 93,023 USD), while only a fraction of the group (4 percent) desired accommodations from 3 billion VND (139,034 USD).

The survey partly reflects the recent trend in the local real estate market of increasing demand for small and medium-size apartments costing less than 1 billion VND.

In the first quarter alone, 5,100 housing units were made available in the southern economic hub, 40 percent of which were in the affordable price range.

The low-end segment appeals particularly to young consumers, like university graduates and newlyweds, said Nguyen Dinh Trung, Chairman of Hung Thinh Corporation which sold 98 percent of its accommodations in the segment.

According to Managing Director Nguyen Vinh Tran at Jen Capital Advisors Ltd, the trend has been emerging in the city since 2010, leading to apartments with smaller spaces and 8-10 percent lower prices compared to the previous period.-VNA